Octopus Apollo VCT 3 PLC
Interim Management Statement
26 May 2011
In accordance with Rule 4.3 of the UK Listing Authority's Disclosure and
Transparency rules, Octopus Apollo VCT 3 plc ("Apollo 3" or "Fund") presents an
Interim Management Statement for the period 1 February 2011 to 30 April 2011.
The statement also includes relevant financial information between the end of
the period and the date of this statement.
Financial Summary
+-----------------------------+------------------------+-----------------------+
| | 3 months to 30 April| |
|Â | 2011|Year to 31 January 2011|
+-----------------------------+------------------------+-----------------------+
|Â | Â | Â |
+-----------------------------+------------------------+-----------------------+
|Net assets (£'000s) | 24,359| 24,332|
+-----------------------------+------------------------+-----------------------+
|Net profit after tax (£'000s)| 27| 677|
+-----------------------------+------------------------+-----------------------+
|Net asset value per share | | |
|("NAV") | 89.70p| 89.60p|
+-----------------------------+------------------------+-----------------------+
|Cumulative dividends paid | | |
|since launch | 9.0p| 9.0p|
+-----------------------------+------------------------+-----------------------+
|NAV plus cumulative dividends| | |
|paid | 98.70p| 98.60p|
+-----------------------------+------------------------+-----------------------+
Investment performance
At 30 April 2011 the NAV plus cumulative dividends paid of the Fund was 98.70p,
which compares to 98.60p at 31 January 2011. The performance of the Fund has
been relatively stable in the period under review due to the Fund achieving near
parity on income and expenditure, and because there have been no changes in the
valuations of the companies in its portfolio.
In the period under review, a further £1,000,000 has been invested in Clifford
Thames Group Limited, an automotive company. Also, £950,000 has been invested in
Aashman Power Limited, £425,352 in Kala Power Limited and £373,560 in Evaki
Power Limited, all of which are solar power companies.
Top Ten Unquoted Qualifying Investment Portfolio by Value as at 30 April 2011
+-----------------------+-----------------+--------------------+---------------+
|Company | Investment class|Carrying value £'000|% of Net Assets|
+-----------------------+-----------------+--------------------+---------------+
|Clifford Thames Group | | | |
|Limited | Automotive| 3,314| 13.6%|
+-----------------------+-----------------+--------------------+---------------+
|CSL DualCom Limited | Security devices| 3,249| 13.3%|
+-----------------------+-----------------+--------------------+---------------+
|Bluebell Telecom | | | |
|Limited |Telecommunication| 2,220| 9.1%|
+-----------------------+-----------------+--------------------+---------------+
|Salus Services 1 | | | |
|Holdings Limited | Care homes| 2,000| 8.2%|
+-----------------------+-----------------+--------------------+---------------+
|Salus Services 1 | | | |
|Limited | Care homes| 2,000| 8.2%|
+-----------------------+-----------------+--------------------+---------------+
|BusinessCo Services 2 | | | |
|Limited |Business services| 1,000| 4.1%|
+-----------------------+-----------------+--------------------+---------------+
|Diagnos Limited | Automotive| 1,000| 4.1%|
+-----------------------+-----------------+--------------------+---------------+
|Resilient Corporate | | | |
|Services Limited |Business services| 1,000| 4.1%|
+-----------------------+-----------------+--------------------+---------------+
|Ticketing Services 1 | | | |
|Limited | Ticketing| 1,000| 4.1%|
+-----------------------+-----------------+--------------------+---------------+
|Ticketing Services 2 | | | |
|Limited | Ticketing| 1,000| 4.1%|
+-----------------------+-----------------+--------------------+---------------+
Dividends
For the year to 31 January 2011, the Board declared a dividend of 1.50p per
share. This dividend will be paid, if approved by shareholders at the AGM, on
15 July 2011 to those shareholders who are on the register on 17 June 2011.
Material events and transactions
The Fund's Board is not aware of any other significant event or transaction
which has occurred between the 1 February 2011 and the date of publication of
this statement which would have a material impact on the financial position on
the Fund.
For further information please contact:
Stuart Nicol - Fund Manager
Octopus Investments Limited - 0800 316 2347
ENDS
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Octopus Apollo VCT 3 plc via Thomson Reuters ONE
[HUG#1519072]
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